Capital - Law Dictionary Search Results
Home Dictionary Name: capital Page: 2Fixed capital
Fixed capital, 'fixed capital' as what the owner turns to profit by keeping it in his own possession and 'circulating capital' as what he makes profit of by parting with it and letting it change masters, Sutlej Cotton Mills Ltd. v. Commissioner of Income Tax, AIR 1979 SC 5 (9): (1978) 4 SCC 358: (1979) 1 SCR 976....
Capital offences
Capital offences, those crimes upon conviction of which the offender is condemned to be hanged. The only crimes now punishable with death are high treason; murder; destruction of H. M. Ships, arsenals, etc. (12 Geo. 3, c. 24); piracy when accompanied by attempted murder [(English) Piracy Act, 1837 (7 Wm. 4 & 1 Vict. c. 88) s. 2]. See PIRACY.Originally all felonies were capital, but early in the 19th century, mainly through the exertions of Sir Samuel Romilly, the severity of the law was mitigated by rapid steps in this respect. Larceny in a dwelling-house up to the value of 40s. was long a capital offence, with the result that juries, to save a prisoner's life, would often falsely find that valuable goods stolen were of the value of 39s.Sentence of death cannot be pronounced on or recorded against a young person under 18. [Children and Young Persons Act, 1933 (23 & 24 Geo. 5, c. 12), s. 53]...
Capital asset
Capital asset, The expression 'capital asset: is defined in S. 2(14) of the Income-tax Act, 1961 to mean 'property of any kind held by an assessee'. It is of the widest amplitude, and apparently covers all kinds of property except the property expressly excluded by clause (i) to (iv) of the sub-s. which, it will be seen, does not include goodwill. But the definitions in S. 2 are subject to an overall restrictive clause, CIT v. B.C. Srinivasa Setty, (1981) 2 SCC 460 (463): (1981) 2 SCR 938: AIR 1981 SC 972.Includes capital asset as property of any kind held by the assesse, A.R. Krishna Murthy v. CIT, (1989) 1 SCC 754: AIR 1989 SC 1055 (1057). (Income Tax Act, 1961, s. 214)...
capital contribution
capital contribution : a contribution of funds or property to the capital of a business by a partner, owner, or shareholder NOTE: Under the Internal Revenue Code, a capital contribution is generally excluded from a company's gross income, unless it is a loan from a shareholder that the company is released from repaying. ...
Nonintromittendo, quando breve pr'cipe in capite subdole impetratur
Nonintromittendo, quando breve pr'cipe in capite subdole impetratur, a writ addressed to the justices of the bench, or in eyre, commanding them not to give one who, under colour of entitling the king of land, etc., as holding of him in capite, had deceitfully obtained the writ called pr'cipe in capite, any benefit thereof, but to put him to his writ of right, Reg. Brev. 4. Obsolete....
working capital
working capital see capital ...
Floating capital
Floating capital. Capital available for the purpose of meeting current expenditure....
Fixed capital investment,
Fixed capital investment, preoperative expenses which included interest to financial institutions, rights shares issue expenses, foreign technician expenses and foreign travel expenses do not form part of 'fixed capital investment', Commissioner of Trade Tax, U.P. v. Kajaria Ceramics Ltd., AIR 2005 SC 2968....
Distribution of capital assets
Distribution of capital assets, the expression 'distribution capital assets' in the third proviso to sub-s. (1) of, s. 12B of the Act, means distribution in specie and not distribution of sale proceeds, James Indersan v. C.I.T., AIR 1960 SC 751 (755): (1960) 3 SCR 167. [Income-tax Act, 1922, s. (12B)(i), Third Proviso]...
Capital value
Capital value, 'capital value' of a building to mean the value arrived at by multiplying the annual value of a building by sixteen, D.G. Gouse and Co. (Agents) Pvt. Ltd. v. State of Kerala, (1980) 2 SCC 410: AIR 1980 SC 271 (282): (1980) 1 SCR 804. (Kerala Building Tax Act (7 of 1975), Pre.)...
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